Mayer Multiple

Following Preston Pysh's "Bitcoin Mayer Multiple" study (https://www.theinvestorspodcast.com/cryp...), I made this simple script to plot the Mayer multiple by calculating the ratio between bitcoin price and its 200-day moving average. It also plots the moving average of ratio itself.

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Release Notes: This version calculates the indicator using only the daily resolution
Release Notes: Updated colors
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Does this indicator have any use on other than the daily timeframe?
unbound martin242
@martin242, not really.
How is the Mayer Multiple calculated? - Bitcoin price/200dma?
+2 Reply
unbound Pladizow
@Pladizow, correct.
Why did it stop tracking the 200d average?
unbound RTrovatten
@RTrovatten, you mean when you play the chart above?
RTrovatten unbound
@unbound, yes, I only see the blue and yellow lines go to Dec 2.
unbound RTrovatten
@RTrovatten, I think it's how tv works. apparently it only updates the price and not the indicators in the idea view.
Is this a overbought scenario? Or a breakout?
unbound simo110j
@simo110j, according to the article, first time buyers should buy only if mayer multiple is below 2.4. so it is more of an overbought.
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